N-able, Inc. (NYSE:NABL) Shares Sold by CenterBook Partners LP

CenterBook Partners LP lessened its position in shares of N-able, Inc. (NYSE:NABL) by 39.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 414,095 shares of the company’s stock after selling 271,133 shares during the quarter. CenterBook Partners LP’s holdings in N-able were worth $3,868,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in NABL. Blue Trust Inc. lifted its holdings in shares of N-able by 95.5% during the fourth quarter. Blue Trust Inc. now owns 3,128 shares of the company’s stock worth $29,000 after purchasing an additional 1,528 shares during the period. KBC Group NV lifted its stake in N-able by 104.7% during the 4th quarter. KBC Group NV now owns 5,490 shares of the company’s stock valued at $51,000 after acquiring an additional 2,808 shares during the period. New Age Alpha Advisors LLC acquired a new stake in N-able during the 4th quarter valued at approximately $83,000. Impact Partnership Wealth LLC purchased a new stake in shares of N-able in the 4th quarter valued at $104,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of N-able in the fourth quarter worth $136,000. Hedge funds and other institutional investors own 96.35% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. BMO Capital Markets reaffirmed a “market perform” rating and issued a $8.50 price target (down from $13.50) on shares of N-able in a report on Tuesday, March 4th. Scotiabank upped their target price on N-able from $8.75 to $9.00 and gave the stock a “sector perform” rating in a research note on Friday, March 14th. Needham & Company LLC reiterated a “buy” rating and set a $10.00 price target on shares of N-able in a research report on Friday, March 14th. Royal Bank of Canada lowered their price objective on N-able from $12.00 to $10.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 4th. Finally, William Blair reaffirmed an “outperform” rating on shares of N-able in a report on Friday, March 14th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.38.

N-able Price Performance

NYSE:NABL opened at $7.02 on Thursday. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.43. N-able, Inc. has a 52 week low of $6.21 and a 52 week high of $15.49. The stock’s 50-day moving average price is $8.34 and its 200-day moving average price is $9.97. The stock has a market capitalization of $1.33 billion, a PE ratio of 35.10 and a beta of 0.57.

N-able declared that its Board of Directors has authorized a stock buyback program on Wednesday, March 12th that allows the company to buyback $75.00 million in shares. This buyback authorization allows the company to repurchase up to 5.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

N-able Company Profile

N-able, Inc provides cloud-based software solutions for managed service providers in the United States, the United Kingdom, and internationally. The company's solutions enable MSPs to support digital transformation and growth within small and medium-sized enterprises. It provides software platform designed to be an integrated, enterprise-grade solution that serves as an operating system for its MSP partners and scales as their businesses grow.